A member of the Board of the Nigerian Education Loan Fund, Umar Faruk-Lawal, has said the Federal Government’s student loan programme is helping to break financial barriers that have long prevented many Nigerians from accessing higher education.
This is as he disclosed that over N206bn has been paid by NELFUND to institutions and students in two years.
Lawal, who represents students on the agency’s board, said the scheme introduced by President Bola Tinubu was already transforming lives by enabling students from low-income backgrounds to pursue tertiary education without the burden of tuition fees and other educational expenses.
Speaking with journalists in Abuja on Thursday, Lawal noted that the interest-free loan scheme had boosted access to universities, polytechnics and colleges of education, allowing many students to continue their studies despite economic challenges.
According to him, before the establishment of NELFUND, many students who secured admission into tertiary institutions were often forced to abandon their academic pursuits due to a lack of financial support.
“Today, students can focus on their academic pursuits without the constant fear of dropping out because of financial difficulties. The intervention of President Bola Ahmed Tinubu through NELFUND has changed the narrative for thousands of Nigerian students,” he said.
Lawal said the programme had particularly benefited students from less-privileged families, many of whom previously viewed higher education as beyond their reach.
“Many students can now aspire to study courses of their choice in tertiary institutions knowing fully well that NELFUND will cater for their tuition fees while also providing monthly upkeep allowances to support their living expenses,” he added.
He urged parents and guardians to encourage their children and wards to take advantage of the scheme, stressing that no qualified Nigerian student should be denied access to higher education because of financial hardship.
“I want to encourage parents to continue motivating their children to embrace this opportunity. They should not allow financial challenges to kill their dreams of obtaining tertiary education because the government has provided a reliable support system through NELFUND,” Lawal said.
